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Tuesday, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
 COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal reference price for coal sales in February 2013 gained 0.91 percent compared to last month. The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price for February 2013 at US$ 88.35 per ton, US$ 0.80 higher than January 2013 bench mark Price.
This coal benchmark price was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the January 2013 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-5900 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25%.
Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur 0.8% (arb), Ash Content 15 % (arb) and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 28 February 2013.
Energy and Mineral Resources Deputy Minister Rudi Rubiandini said early last month that, the Indonesian coal output would increase by 1.2 percent to 391 million tons from 386 million tons last year. According to, one of the leading English news paper in Indonesia, the Jakarta post, that the government had expected the Indonesia coal reference price (HBA) to reach over US$100 per ton this year following potential economic recovery as showed by the recent US fiscal-cliff budget deal, as quoted by Deputy Minister.
The country’s average HBA last year only reached $95.5 per ton, far below the average price level of $118.4 per ton throughout 2011. The January 2013 Indonesia coal reference price (HBA) has jumped by US$ 5.80 per MT or 7.09% from December 2012 price and the February 2013 price has up only by 0.91 percent M-O-M. If HBA continues its journey on this trend then, it may reach government prediction within end 2nd quarter 2013.
In the meantime, world coal analysts and coal industry experts are also predict that, the coal industry and price will improve in coming months as the consumers are back to field to source the coal.
RBS Morgans chief economist Michael Knox said last November, during Brisbane's Major Projects Conference, of all commodities, oil prices always hit the bottom first before beginning to rise, followed by metals including iron ore. Metallurgical coal - used for steel production - was always later, followed by thermal coal.
"In coming months you will see a base in metallurgical coal," he said during conference cited by sunshine coastal daily of Australia. "You'll be able to say in a year's time that the low in metallurgical coal is behind us and you will see a rally (in prices). "Six months later, you will see a rally in thermal coal,” he said, the media further said.
Goldman Sachs, expects met prices to average US$178 per tonne in 2013, rising to US$195 per tonne in 2014. Many other analysts have made similar predictions, according to Northern Miner.
The government of Indonesia has been publishing a monthly coal reference price (HBA & HPB) since January 2009 to be used by coal producers for all spot and term contracts. However the full implementation of HBA has started only since September 2011.
The February 2013 HBA is 23.23 percent or $ 20.82 lower Y-o-Y basis.
The price was only valid for the spot price (loading on or before 28 February 2013), while as for term price (up to 12 months supplies), the average reference price (HPB) of the previous 3 months will be used to determine the selling price. (50% of latest available month HPB, 30% of one month prior HPB and 20% of two months prior HPB).
Government also declared reference price for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands are acted as the benchmark and used to calculate other 62 coal types with a quality similar to the coal price markers.
For sales in barge, the reference price is reduced by barging and transshipment costs from barge to vessel.
The coal reference price, which has been established to fulfill the requirement of mining law 04/2009 and latest ministerial decree 17/2010 and also aims to increase government revenue from royalties from coal producers. According to industry, all existing coal supply agreements with Indonesian coal mining companies have been revised to comply with new coal pricing regulation, which was fully implemented on 23 September 2011.
The government has recently introduced export duty for unprocessed minerals but coal was missing in the recent regulation. According to Mining law 04/2009, the coal producers of Indonesia were asked to add value for their product such as washing, crushing, blending and upgrading to have a higher-value product prior to eye on the export market and avoid proposed export ban. However the industry players are in opinion that, the government may not proceed further with LOW GCV coal export ban by early next year as planned earlier.
According to local media reports, the Supreme court of Indonesia had ordered the government to withdraw four chapters in the regulation, including one chapter limiting the exports of raw minerals since May 6. According to Ministerial Decree No. 7 on mineral processing, mining companies would only be granted mineral ore export permits after receiving CNC for their business licenses as well as showing commitment to establish smelters or cooperate with other companies to process their mineral ores for export.
Click here for complete Indonesian coal reference prices since January 2009.(cs)
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Friday, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materi ...
Thursday, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
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- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
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- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
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- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
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- Deloitte Consulting - India
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- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- The University of Queensland
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- Goldman Sachs - Singapore
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- Global Business Power Corporation, Philippines
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- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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- Coastal Gujarat Power Limited - India
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- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
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- Chamber of Mines of South Africa
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- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
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- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
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- AsiaOL BioFuels Corp., Philippines
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- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
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- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
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- Economic Council, Georgia
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- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
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